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Tax Rates Inch Up In EU27 5/25/2012 In its 2012 edition of the publication 'Taxation trends in the European
Union', Eurostat, the statistical office of the European Union, highlights
the observed increase in value-added tax rates, corporate tax rates and top personal
income tax rates in 2012, among the twenty-seven European Union member states.
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CBI Urges Corporate Tax Powers For Northern Ireland 5/24/2012 A lower corporation tax rate would give Northern Ireland's economy a 'shot in the arm', the head of the Confederation of British Industry Northern Ireland has said, calling for power to set the rate to be devolved.
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South Africa, Ireland Ink Film Tax Break Agreement 5/22/2012 On May 20, 2012, the South African Minister of the Department of Arts and Culture
Paul Mashatile and his Irish counterpart Jimmy Deenihan signed a co-production
treaty that will provide access for filmmakers to opportunities and tax breaks
in both countries.
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Ireland Will Not Budge On Corporate Tax Rate 5/21/2012 Hiking Ireland’s corporation tax rate is not in the country’s interests, Prime Minister Enda Kenny has said, a sentiment backed up by his deputy and Finance Minister, who have also stressed that Ireland remains firm in its position on the tax.
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Eurogroup Committed To Fiscal Consolidation 5/16/2012 Following the latest Eurogroup meeting in Brussels, Luxembourg’s Prime Minister
and Eurogroup President Jean-Claude Juncker confirmed that the Eurogroup’s
consolidation strategy, in accordance with provisions contained in the Stability
and Growth Pact, ‘remains appropriate’ and will therefore continue
to form the cornerstone of its strategy to correct fiscal and economic imbalances
to overcome the crisis and to return to sustainable growth.
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Ireland Mulls New Tax Regime For Oil And Gas 5/14/2012 The Joint Committee on Communications, Natural Resources and Agriculture of the Irish parliament has recommended a new fiscal licensing regime and greater public consultation on offshore oil and gas exploration in a new report.
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Ireland Publishes ESM Bill 5/9/2012 Ireland's Minister for Finance Michael Noonan has published the European Stability Mechanism Bill 2012 as part of the government's commitment to ensure that the Irish people are fully informed in casting their votes on the Stability Treaty.
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Regulatory Change To Drive Onshore Fund Growth 5/9/2012 French hedge funds and the securities regulator AMF believe the Alternative Investment Fund Managers Directive will - more than UCITS - boost investor confidence in hedge funds and pave the way for potentially significant asset growth.
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Irish Tax Debt Falls, Shadow Economy Targeted 5/4/2012 The latest annual report of the Irish tax authority, the Revenue Commissioners, shows 'solid performance in challenging circumstances', with enforcement efforts yielding an increase in tax receipts and a reduction in outstanding tax debt.
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Ireland To Tighten Tax Residence Rules 5/3/2012 Ireland's Minister for Finance Michael Noonan has launched a consultation
on possible revisions to the current tax residence rules designed to ensure that affluent individuals that have strong economic ties to Ireland but are not tax resident pay a 'fair contribution' in tax.
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Ireland Completes Latest Bailout Review 5/1/2012 Ireland has achieved all the targets set under its bailout agreement, the European Commission, European Central Bank and International Monetary Fund have said in their latest quarterly review, news welcomed by the Irish government.
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Ireland, US In Talks Over FATCA 5/1/2012 Ireland and the United States are in talks to establish a common approach to the Foreign Account Tax Compliance Act, drawing on domestic and international tax legislation and treaties.
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Ireland Details Planned Stability Treaty Legislation 4/30/2012 Ireland's Finance Minister Michael Noonan has outlined plans for future legislation that would implement key provisions of the European Stability Treaty, were the Irish people to vote in favour of adopting it at a forthcoming referendum.
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Ireland Launches Stability Treaty Campaign 4/24/2012 The Irish government has launched a public information campaign in the run up to next month's referendum on the latest deal designed to shore up the European Union's finances.
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Ireland Urged To Ease Property Tax For Low-Paid 4/19/2012 The Irish government's planned property tax could be fairer than the current interim household charge, the Economic and Social Research Institute has said, warning that the current system hits lowest earners hardest.
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Irish Tax Breaks Not Generous Enough, Minister Warns 4/12/2012 Tax breaks for executives are not generous enough, Ireland's Minister for Jobs has been reported as warning the Finance Minister.
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HMRC Could Investigate Apple's UK Tax Affairs 4/11/2012 Just days after it emerged that Amazon was under investigation by the UK taxman, Apple has come under fire for its payment of just GBP10m in UK corporate tax.
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UK Due To Introduce Tax-Transparent Pooled Fund Structure 4/10/2012 Northern Trust has confirmed that it will offer the incoming UK tax-transparent
pooled funds structure, when regulations permitting the vehicle become effective in the UK in late summer 2012.
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Irish Tax Revenue On The Up 4/6/2012 Irish tax revenues were 10.2% ahead of target in March, an improvement caused by later than expected corporate tax collections and the technical reclassification of some income tax receipts.
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Ireland Faces Fiscal Dilemma 4/5/2012 Irish policy makers face a clear dilemma in choosing an appropriate medium-term fiscal stance, the country's budget watchdog has said, warning that additional austerity measures may be necessary to meet targets.
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EUR800bn 'Firewall' Set In Place For Euro Zone 4/5/2012 During the recent meeting of European finance ministers in Copenhagen, euro
zone finance ministers agreed to a total capacity of around EUR800bn (USD1tn)
for the euro rescue mechanism, according to the German finance ministry.
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Ireland Receives Danish Bailout Loan 4/4/2012 Ireland has received EUR100m via its loan agreement with Denmark, funding welcomed by the Finance Minster who said that the bailout is helping the country rebuild its economy.
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Air Passenger Claims Backed By EU Court Advisor 4/3/2012 An Advocate General to the European Court of Justice has found that an air carrier must provide care to passengers whose flights have been cancelled because of extraordinary circumstances such as the closure of airspace following the eruption of the Eyjafjallajökull volcano in a case brought by an Irish passenger against airline Ryanair.
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Ireland Faces Household Charge Backlash 4/3/2012 Action against Ireland's household tax continues apace, with only 61% of liable households expected to pay the tax and over 5,000 people marching through the streets of the capital in protest.
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Ireland, China Finalise Strategic Partnership Agreement 4/2/2012 Ireland and China have concluded a Strategic Partnership Agreement, hailed by the Irish Prime Minister Enda Kenny as a major step-up in relations that will lead to greater trade and investment.
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Ireland Appoints 'Start-Up Ambassador' In China 3/30/2012 Enterprise Ireland has appointed an 'International Start-up Ambassador' in China as part of the government's Action Plan for Jobs 2012.
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Ireland To Extend Betting Tax To Online Bookies 3/15/2012 Ireland's online bookmakers will soon be liable to a transactions tax, bringing the country's internet gambling regime in line with that imposed on high-street shops.
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Irish Revenue Issues Corporate Tax Filing Reminder 3/15/2012 The Irish Revenue has issued compliance reminder letters to those who have failed to file their corporate tax returns.
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EU Divided Over FTT 3/15/2012 Despite months of ongoing discussions, Europe remains divided and seemingly
no further forward on the controversial issue of a financial transactions tax.
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Ireland Receives Latest Cash Injection 3/8/2012 The European Commission has given the go-ahead for Ireland's latest bailout payment, concluding that the country's austerity programme is strong and on track.
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Irish Tax Revenues Ahead Of Target 3/8/2012 Irish tax revenues rose considerably in January and February, largely due to delayed corporation tax receipts and the technical reclassification of some income tax revenue.
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UK Financial Reporting Body To Revise Auditing Rules 3/7/2012 The Auditing Practices Board of the UK Financial Reporting Council has proposed revisions to the International Standards on Auditing, which were issued as part of the
'Clarity Project', to ensure that they can be introduced throughout both UK and Ireland for entities undertaking auditing activities.
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VAT Hike Hits Ireland's Retail Sales 3/5/2012 Irish retail sales fell by 3.7% in the wake of January's value-added-tax hike, prompting small business leaders to call on the government to re-think its strategy.
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Irish Austerity Hits Wealthiest Hardest 3/2/2012 While Ireland's recent indirect tax hikes and welfare cuts have hit those on lower incomes hardest, in the longer term higher earners have borne the brunt of change, the Economic and Social Research Institute has said.
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Ireland To Vote On Fiscal Compact 3/2/2012 Ireland is to hold a referendum on the European Stability Treaty, Prime Minister Enda Kenny has said, a deal he argues will help rebuild the country's economy and international reputation.
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Austerity Continues To Bite In Ireland, ESRI Says 2/29/2012 Structural and tax reforms could offer a boost to Ireland as austerity measures continue to dampen economic activity, according to a new report by the Economic and Social Research Institute.
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Isle Of Man Lures Another Gaming Company 2/23/2012 The Isle of Man government has welcomed the successful application of TWLV for
a license to operate a new online bingo site from the island.
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The Netherlands Ups Tax Treaty Negotiations In 2012 2/21/2012 Underlining the government’s commitment to negotiating new tax treaties
with other countries, the Dutch finance ministry has recently outlined details
of its specific plans for 2012.
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Ireland Unveils New Tax Incentives 2/17/2012 Tax reform features heavily in Ireland's new Action Plan for Jobs, a package designed to boost job creation and establish Ireland as the best small country in which to do business.
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Ireland Releases Tax Profile Data 2/15/2012 The Irish Finance Department has published profiles of expected Exchequer tax revenues for 2012 which show figures consistent with Budget forecasts.
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Ireland To Improve Tax Relief For Approved Donations 2/14/2012 Minister for Finance, Michael Noonan, has announced his intention to bring forward amendments to the charitable donations scheme, which will take effect from January next year.
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Ireland Publishes 2012 Finance Bill 2/13/2012 The Irish Finance Bill 2012, introduced on February 8, 2012, proposes extensive
changes to the nation's tax regime, including a hike in the headline value-added tax rate to 23%, and targeted tax amendments to improve the competitiveness
of the country's financial services industry.
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Irish Company Formations Up; Insolvencies Fall 2/10/2012 Conditions on the ground in Ireland may be improving, according to new figures published by Vision-net, which show that new business formations in Ireland have outpaced insolvencies so far this year, despite four insolvencies every day.
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Irish Tax Revenues On The Up 2/7/2012 Irish tax revenues were up 17% last month, with January's receipts representing just over 10% of the annual Budget 2012 target.
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FTT Will Hit UK Revenues Even With Opt Out 2/8/2012 David Cameron's refusal to sign a new European Union deal will not shield the UK from the impact of a financial transaction tax, Ernst and Young has said.
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Russia Considers Eurobond Tax 2/7/2012 The Russian government is considering retroactively applying withholding tax on Eurobonds that are issued through special purpose vehicles in low-tax jurisdictions.
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Irish Revenue Brief On USC Released 2/6/2012 Ireland's Revenue agency has published an e-brief detailing the application by employers of the Universal Social Charge to social welfare-type payments.
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Ireland Creates Expert Panel For Property Tax Plans 2/3/2012 The Irish government is pushing forward with its plans for a property tax, appointing an expert panel to consider proposals.
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ASB Maps Out Future Of UK Financial Reporting 2/3/2012 The UK Accounting Standards Board of the Financial Reporting Council has published financial reporting exposure drafts 46 to 48 setting
out revised proposals for the future of financial reporting in the UK and Republic
of Ireland.
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Ireland, Switzerland Sign DTA Protocol 2/1/2012 Switzerland and Ireland have inked a revised double tax agreement which alters dividend withholding tax rates.
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EC Asks Ireland To Modify Motor Tax 1/30/2012 The European Commission has requested that the Irish government modify its taxation of motor vehicles less than three months old.
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Irish Fiscal Advisory Council Issues Report 1/27/2012 Ireland's Fiscal Advisory Council has issued its latest report which assesses elements of the government's plans for overhauling the country's budgetary framework.
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Guernsey Remains Leader In Non-UK Listings 1/27/2012 Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market
authority.
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Ireland Launches Immigrant Investor Programme 1/26/2012 The Irish government is to introduce two major new immigration initiatives aimed at encouraging non-European migrant entrepreneurs and investors.
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Ireland Continues To Defend Corporate Tax Rate 1/25/2012 Ireland is 'not in the business' of changing its corporate tax rate, Deputy Prime Minister Eamon Gilmore has said, stressing that it remains vital to jobs and investment.
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Ireland Overcoming Fiscal Woes 1/24/2012 Ireland has received positive feedback in terms of its progress towards fiscal
targets from the International Monetary Fund, the European Central Bank and
the European Commission as part of a review into progress made under a financial
assistance package provided to the nation to aid its resurgence from
the global financial and domestic banking crisis.
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UK Author Calls For Tax Breaks To Help New Writers 1/20/2012 A tax incentive would help give new writers a head start in publishing, one of the UK's leading authors has said.
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Ryanair Snubs Ireland Over Tax 1/19/2012 Irish airline Ryanair, Europe's largest budget airline, is to create 1,000 new jobs but not in Ireland, with the country's tax regime thought to be to blame.
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EU Tax Burdens Stabilize 1/17/2012 Following three years of decline, European Union nations' tax-to-GDP ratios remained broadly level in 2010, the latest year for which detailed tax revenue statistics are available for all member states, as governments begin to consolidate their fiscal positions. In the euro area the downward trend in tax revenues continued, but decelerated in 2010, with a slight drop to 40.2% of GDP.
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Irish Revenue Chief Apologies For Pension Tax Farce 1/13/2012 The chair of the Irish Revenue Commissioners has been forced to apologise for the distress caused by the disclosure that thousands of Irish pensioners are to face unexpected tax charges.
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Irish Ministers Slam Rumours Of Second Irish Bailout 1/16/2012 Enda Kenny and Michael Noonan have both denied talk of a second bailout for Ireland as members of the troika continue their visit to the country to evaluate its progress.
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Call For Clarity Over Irish Pension Tax Debacle 1/10/2012 The fallout from the Irish Revenue's disclosure that thousands of pensioners will receive an unexpected tax hit continues, with the agency forced to re-open customer enquiry lines and facing calls for a public information campaign.
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Irish Tax Revenues Grow For First Time In Three Years 1/9/2012 Higher income tax and stamp duty revenues helped boost the Irish Exchequer's coffers in 2011, but overall receipts were still lower than originally projected.
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Irish Pensioners Facing Tax Hit 1/9/2012 115,000 Irish pensioners are to be hit by unexpected tax charges after new information came to light regarding inaccuracies in figures held across different government departments.
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Irish VAT Hike Criticized 1/5/2012 Ireland's value-added tax hike will mean that the country's poorest will see a larger proportion of their incomes go on the levy than the more well off, according to a think tank.
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UK VAT Hike Still Squeezing The Pocket 1/4/2012 The UK's value added tax rise added 1 percent to the level of prices in 2011, the accountancy firm PwC has calculated.
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Record Export Year For Ireland 12/29/2011 Irish firms experienced record levels of exports in 2011 and are now using a renewed confidence to aggressively target opportunities in international markets, according to the latest figures from Enterprise Ireland.
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Irish Property Tax To Raise EUR500m A Year 12/26/2011 The Irish government has confirmed that a property tax will replace its unpopular Household Charge a year earlier than planned, with the Prime Minister Enda Kenny saying he hopes it will raise EUR500m (USD650m) a year.
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EU Approves Irish Banking, Credit Union Reforms 12/27/2011 Irish Finance Minister Michael Noonan has welcomed the European Commission's decision to approve the government's schemes for the salvaging of credit unions and the restructuring of the Bank of Ireland.
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Ireland To Bring Forward Property Tax 12/22/2011 Facing a possible boycott of the new Household Charge, the Irish government looks set to replace it sooner than anticipated with a full property tax, a year earlier than originally planned.
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Ireland's Recovery Firming 12/21/2011 The International Monetary Fund has welcomed an improvement in Ireland's fiscal position
following authorities' efforts to stabilize the banking system and achieve the
3% of Gross Domestic Product deficit target by 2015.
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CAI Slams Boycott Of Irish Household Tax 12/20/2011 Ireland's taxpayers should not boycott the new Household Charge, regardless of any legitimate concerns they may have about it, Chartered Accountants Ireland has said.
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Irish Lawmakers To Boycott Household Tax 12/19/2011 Nine rebel members of the Irish parliament have said that they will not pay the controversial household tax when it is introduced in January.
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Ireland Concerned At UK FTT Opt Out 12/15/2011 The fall-out from the UK's decision to walk away from European Union crisis talks continues, with the Irish Finance Minister Michael Noonan warning of his concerns over a financial transactions tax that excludes the City of London.
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Ireland Consults On Vehicle Tax Options 12/14/2011 A decline in new car sales, coupled with the inclination of consumers towards cheaper and cleaner cars, has meant a fall in Irish vehicle tax revenues and prompted the government to consult on options for reforming the levies.
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Irish Revenue Flags Compliance Risks 12/13/2011 The Irish Revenue must find ways to continue its staff reduction programme while not risking the efficiency of its compliance work, the office has said in its self-assessment paper.
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Irish Parties Spar Over EU Taxes 12/12/2011 A major split between countries at the latest European Union summit is worrying for Ireland, opposition leaders have said, raising concerns about the impact of a new deal on the country's financial services sector.
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Noonan Delivers Tax Changes In Irish Budget 12/8/2011 Irish Finance Minister Michael Noonan has delivered a comprehensive austerity budget comprised largely of tax measures designed to raise almost EUR2bn (USD2.7bn) in additional revenue.
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Irish Revenues Fall Below Target 12/6/2011 Irish tax revenues will fall EUR450m short of target, with corporate tax and value added tax receipts lower than expected.
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Prepare For Austerity Budget, Kenny Tells Ireland 12/6/2011 Ireland's upcoming Budget will be necessarily tough, with the country's economy still in crisis, the Prime Minister has said. It will, however, build on the steps the government has already taken toward recovery and include over EUR1bn in tax hikes.
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Don't Add More Misery To Ireland's VAT Hike, Retail Group Says 12/5/2011 With a value added tax hike already confirmed for the upcoming Budget, the Irish government must be careful not to hit the struggling retail sector still further, Retail Ireland has said.
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Accounting Failures 'Exacerbated Banking Crisis' 12/6/2011 A new report, assessing the causes of the global financial crisis, claims that shortcomings in the accounting standards issued by the International Accounting
Standards Board were a contributing factor to the instability experienced in the UK and Irish banking sectors,
and subsequent taxpayer-funded bailouts.
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Switzerland Reports Slight Tax Burden Rise In 2010 12/2/2011 Switzerland’s federal administration recently announced a slight increase
in the Swiss tax burden in 2010 against the previous year.
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Ireland Retains Business Appeal Despite Downturn 11/30/2011 Despite the inevitability of higher taxes in Ireland for the next few years, tax experts have been keen to point out that a recent World Bank survey ranks Ireland as having one of the easiest tax regimes in the world, putting the country in fifth place overall in terms of tax compliance obligations and the total tax rate.
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Noonan Confirms Irish VAT Hike 11/28/2011 Irish Finance Minister Michael Noonan has confirmed that a 2% value-added tax hike included in recently-leaked proposals is on the cards.
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VAT Hike Expected In Ireland's December Budget 11/21/2011 Irish consumers could be subject to an earlier than expected value added tax hike, after documents were leaked to the German parliament showing plans to include the measure in the upcoming Budget.
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UK Drops In Tax Competitiveness Index 11/17/2011 While the UK has a competitive tax system it risks being overtaken by other economies easing tax burdens for businesses, according to a new report from PwC.
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Ireland, Russia Sign New Trade Agreement 11/11/2011 Ireland and Russia inked an agreement on a programme for trade and economic cooperation during Deputy Prime Minister Eamon Gilmore's recent trip to Moscow, allowing for a greater level of engagement between government authorities in each country.
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'Tobin' Tax Must Be EU-Wide, Says Ireland 11/11/2011 Dublin's financial services sector would be hard hit were proposals for a financial transaction tax not rolled out across the European Union (EU) as a whole, Ireland's Finance Minister, Michael Noonan, has warned.
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Ireland Eases Tax Filing Requirements 11/9/2011 The Irish Revenue is to offer reductions in the frequency of certain tax returns and payments for smaller eligible businesses from January next year.
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EU Stalls On FTT 5/1/2012 During a recent European Union Economic and Financial Affairs Council meeting in Brussels, deep divisions emerged on the creation of a tax on financial transactions, leading to a likely delay in the presentation of new legislation to implement the levy at European level.
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NI First Minister Says Tax Cut Is A Priority 11/8/2011 Lowering corporation tax is an important way to improve Northern Ireland's economic situation, the province's First Minister has said.
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Noonan Unveils Irish Fiscal Plans 11/8/2011 No further substantive changes will be made to income tax in Ireland over the coming year, but this will mean that other taxes will have to rise for the government to deliver the revenue increases necessary to help drive down the budgetary deficit.
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Irish Tax Revenues Up, But Some Targets Not Met 11/7/2011 The Irish government had taken almost EUR2bn (USD2.74bn) more in taxes at the end of October than in the same period last year, with the new pension levy performing particularly well. However, many of the government's targets have not been achieved.
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Tax Remains Lure For US Investors In Ireland 11/3/2011 Ireland’s low corporate tax rate remains the key factor for attracting foreign direct investment from the US, with new research showing that Ireland’s tax regime is seen as an increasingly important advantage over other potential foreign direct investment destinations in Europe.
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Ireland Launches International Start-Up Fund 11/2/2011 The Irish government has launched a EUR10m International Start-Up Fund, aimed at encouraging overseas entrepreneurs to locate start-up businesses in Ireland.
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Excise Duty Concession Lands Ireland In ECJ 10/31/2011 The European Commission has decided to refer Ireland to the EU's Court of Justice for failing
to correctly implement European Union rules on excise duties on fuel.
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IBEC Backs Irish Austerity Plan 10/31/2011 The government's EUR3.6bn austerity plans are sufficient for Ireland to meet its bailout targets, the Irish Business and Employers Confederation has said, stressing the focus must be on cutting expenditure, not tax hikes.
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Noonan Steadfast On Irish Corporate Tax 10/31/2011 Ireland's 12.5% corporation tax rate is here to stay, Finance Minister Michael Noonan has said, stressing that it remains a key cornerstone of strength for the country's economy.
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Ireland Completes Latest Bailout Review 10/26/2011 Ireland looks set to receive an additional EUR8bn in bailout funding, after the successful conclusion of the latest review mission by its international creditors, who have praised the coalition government for its continued strong implementation of its rescue package commitments.
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